Cinemark (NYSE:CNK) Price Target Raised to $20.00 at The Goldman Sachs Group

Cinemark (NYSE:CNK) had its price target hoisted by equities research analysts at The Goldman Sachs Group from $16.00 to $20.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential downside of 29.35% from the stock’s current price.

Several other research analysts have also recently weighed in on CNK. Macquarie increased their price target on shares of Cinemark from $21.00 to $24.00 and gave the company an “outperform” rating in a report on Tuesday, July 9th. Benchmark reissued a “buy” rating and issued a $23.00 price target on shares of Cinemark in a report on Monday, July 1st. Roth Mkm increased their price target on shares of Cinemark from $28.00 to $30.00 and gave the company a “buy” rating in a report on Monday, August 5th. StockNews.com cut shares of Cinemark from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Finally, Barrington Research cut shares of Cinemark from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cinemark presently has an average rating of “Moderate Buy” and an average target price of $26.00.

Cinemark Stock Down 0.1 %

Shares of CNK stock opened at $28.31 on Thursday. The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.26 and a current ratio of 1.29. The firm’s 50-day moving average is $25.89 and its 200-day moving average is $21.05. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 2.12 and a beta of 2.36. Cinemark has a 52-week low of $13.19 and a 52-week high of $29.07.

Cinemark (NYSE:CNK) last issued its earnings results on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.25. The company had revenue of $734.20 million for the quarter, compared to analysts’ expectations of $691.74 million. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. Cinemark’s quarterly revenue was down 22.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 EPS. Sell-side analysts predict that Cinemark will post 1.33 EPS for the current year.

Insider Transactions at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.19, for a total transaction of $679,750.00. Following the sale, the insider now owns 204,729 shares in the company, valued at approximately $5,566,581.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.30% of the company’s stock.

Institutional Trading of Cinemark

Several large investors have recently made changes to their positions in the company. Point72 DIFC Ltd acquired a new stake in shares of Cinemark during the 2nd quarter worth approximately $144,000. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Cinemark by 38.7% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after acquiring an additional 877 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Cinemark during the 2nd quarter worth approximately $238,000. Susquehanna Fundamental Investments LLC boosted its position in shares of Cinemark by 5.0% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 108,988 shares of the company’s stock worth $2,356,000 after acquiring an additional 5,199 shares in the last quarter. Finally, Luxor Capital Group LP boosted its position in Cinemark by 491.0% in the second quarter. Luxor Capital Group LP now owns 99,295 shares of the company’s stock valued at $2,147,000 after buying an additional 82,493 shares in the last quarter.

About Cinemark

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.